Finance and Small Manufacturing Firms: Do Market Listing and Size Entail Behavioural Differences?

43rd Annual ICSB World Conference Paper

12 Pages Posted: 26 Dec 1998  

Bernard Belletante

Euromed Marseille Ecole de Management

Bernard Paranque

Kedge Business School; Aix Marseille Université-LEST - CNRS 7317

Date Written: June 1998

Abstract

It is possible to study companies according to their methods of gaining access to finance, and in particular the stock market. Two approaches are possible. The first looks at the organization of such access through the relationships built up by the company with suppliers of capital, enabling the financial territory of the company to be defined. The second approach, which does not exclude the first, is to compare companies according the degree to which they enjoy access to financial markets, which can be defined in terms of whether a company is listed on the stock market or not. Both approaches have been tested using data for recent years. The purpose of this paper is to examine firstly the differences in access to financial markets between large and small companies, and secondly the effects and constraints generated by the fact of being listed (comparison of listed and unlisted companies).

JEL Classification: G3, L2, M2

Suggested Citation

Belletante, Bernard and Paranque, Bernard, Finance and Small Manufacturing Firms: Do Market Listing and Size Entail Behavioural Differences? (June 1998). 43rd Annual ICSB World Conference Paper. Available at SSRN: https://ssrn.com/abstract=141085 or http://dx.doi.org/10.2139/ssrn.141085

Bernard Belletante

Euromed Marseille Ecole de Management ( email )

Domaine de Luminy
BP 921 13288 Marseille Cedex 9, 13288
France

Bernard Paranque (Contact Author)

Kedge Business School ( email )

Domaine de Luminy - BP 921
BP 921
Marseille, PACA 13288
France
+33607434981 (Phone)

HOME PAGE: http://www.kedgebs.com

Aix Marseille Université-LEST - CNRS 7317 ( email )

35 rue Jules Ferry
Aix en Provence, 13626
France

HOME PAGE: http://www.lest.cnrs.fr

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